Friday , June 18 2021

The annual shopping leap in China breaks another record



Online buyers spent more than $ 14 billion on Sunday in the first two hours of China's annual purchasing frenzy, breaking the records of this consumer holiday once again, now in its tenth year.

The increase in spending contrasted the grim forecasts on the second-largest economy in the world, which is going through a tariff war with the United States, a decline in the stock market and a slowdown in global growth.

Known as High School Day, the clamor for offers and discounts was announced with the fanfare of Chinese electronic commerce giant Alibaba, who made this unofficial holiday for people who do not have a romantic companion as an annual unforeseeable for digital retailers. .

A large screen at the Alibaba gala in Shanghai showed the growing number of real-time sales: 2 minutes and 5 seconds from midnight, 10 million yuan (1.43 million dollars) were made in purchases on Alibaba platforms One hour and 47 minutes later, that number multiplied in ten times, to more than 14,000 million dollars.

The Bachelor's Day began as a fiction event by Chinese university students without partners in the 90s. In Chinese, it is called "Double 11", by the figures of the month and date. The impromptu holiday has since been co-opted by electronic retailers and has been transformed into the Chinese version of Cyber ​​Monday: the day of most online purchases in the United States.

Weibo's platform, similar to Twitter, was full of messages related to Sunday's Unique Day, of users who proudly proclaimed that they resisted the desire to go shopping this year, who happily listed a variety of mundane purchases.

Founder Alibaba, Jack Ma, who will leave his post in less than a year, attended the gala in Shanghai and appeared in a video message.

The day of the single "is not a day of discounts, but one day of gratitude," said Ma in the video. "It's when retailers use the best products and the best prices to show their gratitude to our consumers," he added.

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Wang reported from Beijing

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